Panama Canal to name shortlisted bidders for terminal project by year-end

The Panama Canal plans to announce shortlisted bidders for the construction and operation of two new container terminals by the end of 2021, according to Administrator Ilya Espino. The announcement comes as part of a broader $8.5 billion expansion plan aimed at transforming the canal into a larger logistics and energy hub. The new terminals could attract an additional $2.6 billion in investment.

Global shipping companies like Maersk and MSC may be among the pre-qualified bidders. The canal is also exploring a third terminal project, with concessions potentially awarded around mid-2027, with operations starting in 2030 or 2031. The freshwater-operated canal has implemented draft and passage restrictions due to anticipated El Niño weather patterns.

The highest amount paid for a Panama Canal transit this year reached $5.2 million, and the waterway is implementing measures to avoid long waiting times and high passage costs.